Atlantic Aqua Farms is a leading blue mussel producer. (Photo: Atlantic Aqua Farms)
Pension plan buys Atlantic Aqua Farms mussel producer
CANADA
Saturday, November 18, 2017, 02:20 (GMT + 9)
Ontario Teachers' Pension Plan (OTPP) has acquired shellfish producer Atlantic Aqua Farms from San Francisco-based Encore Consumer Capital, which is its first venture into the realm of aquaculture.
The initiative falls under OTPP natural resources mandate to invest in the global food basket, with an eye on sustainable sources of food production.
"Demand for protein is increasing, and in the context of land constraints and environmental considerations, aquaculture is among the most sustainable sources to meet this demand," said Andrew Claerhout, Senior Managing Director, Infrastructure and Natural Resources.
PEI-based Atlantic Aqua Farms has been supplying North American consumers with its Canadian Cove brand mussels for over 25 years.
Headquartered in Orwell Cove, Prince Edward Island, the company is the largest grower and processor of the widely-recognized, high-quality Prince Edward Island blue mussels under the brand names Canadian Cove, Confederation Cove and J.P.'s Shellfish, and also offers a wide selection of branded oysters, clams, and live Maine and Canadian lobster.
"Ontario Teachers' is a leader in environmental stewardship, corporate governance and social responsibility and with the benefit of Ontario Teachers' vision and leadership we look forward to many more years of continued sustainable growth in the aquaculture sector as we strive to be market leaders in everything we do," pointed out Terry Ennis, CEO of Atlantic Aqua Farms.
OTPP is a single-profession independent pension plan headquartered in Toronto and with an Asia-Pacific region office located in Hong Kong. Its Europe, Middle East & Africa region office is in London.
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